The US Securities and Exchange Commission moved to drop his long -term lawsuit against Crypto Exchange Binance on Thursday without giving an explanation in a legal submission.
SEC and Binance submitted a common movement and noted that the case was already paused, while SEC’s new crypto -task force worked to “develop a regulatory framework for crypto assets.”
“In the exercise of his discretion and as a political case, the Commission believes that the dismissal of this trial is appropriate,” said the joint filing. “… The Commission’s decision to seek dismissal of this trial does not necessarily reflect the Commission’s position in any other trial or procedure.”
SEC has not yet published a framework, although legislators in the US Representative House introduced their formal bill to define how SEC and its sister agency, Commodity Futures Trading Commission, would each oversee digital assets earlier on Thursday.
The parties want the case to be dismissed with prejudice, which means that SEC would not be able to bring this trial against Binance again in the future. The filing also includes provisions to block Binance or its affiliated units and leaders from filing a case or complaint against SEC tied to the trial, which was brought in June 2023 against Binance, Binance.us and Binance Founder Changpen Cz Zhao.
Judge Amy Berman Jackson, who oversees the case, previously stated that SEC had brought plausible charges against the exchange and let most trial continue last year.
In a statement, an external spokesman for Binance.us said they were “pleased that SEC fully rejected his charges against binance.
“Today’s news is an important milestone for our business as putting this case to rest allow us to focus fully on growing our business and working on restoring our relationship affected by SEC,” the statement states. “We are excited about Binance and Crypto Future in the United States and look forward to continuing to offer access to crypto in the US while maintaining our commitment to compliance and our customers.”
Thursday’s archiving just marks the latest withdrawal for SEC, which already moved to fall over a dozen other investigations and litigation. Prior to 2025, SEC investigated non-funny token marketplaces and defendant crypto exchanges. Binance was only an exchange that the alleged SEC illegally served as an unregistered broker, clearinghouse and exchange. Others included Coinbase and Kraken.
SEC’s lap came after Donald Trump re -entered the office as US president, and appointed Commissioner Mark Uyeda as acting chairman and nominated Paul Atkins to be the full chairman of the agency. Atkins were confirmed and sworn to office last month.
Last week, Binance announced that it would list USD 1, a stableecoin issued by World Liberty Financial, a cryptic company tied to Trump, some of Trump’s children and some of his affiliated companies.
Earlier Thursday, SEC commissioner Hester Peirce during a performance in Bitcoin 2025 in Las Vegas said some cryptoinvestors should not expect a rescue or government protection if investing in speculative digital assets.
Update (29 May 2025, 22:08 UTC): Adding additional details.
Update (May 29, 22:45): Adds Binance.us declaration.
Update (29 May 23:05): Adds USD 1 -note.
